NG pricingJuly 15 AECO close 3.92
2014 average 4.05
2019 1.09
2020 2.05
I believe these figures are more or less accurate. Henry Hub pricing is also very attractive. The July ARC presentation with pricing sensitivities shows net debt/FFO falling to around 1.2 or 1.3 at $60 WTI and $2.90 Henry Hub. At current prices for gas and oil, if maintained, the ratio might fall to around 1. This company is rolling in the clover. Companies that were burned in the recent past are not rushing out to increase drilling as they did in the past. Some of the hedges ARC has, with the benefit of hindsight, are not that good. But there is still a great inflow of cash from these high prices, which look to remain high for several quarters.